friction we investigate is related to the ownership of children. If parents have no claim on their children's income, then the …) model with fertility choice and altruism, and model ownership by introducing a minimum constraint on transfers from parents … failure that may lead to inefficiently low equilibrium fertility and therefore to a need for government intervention. The …

friction we investigate is related to the ownership of children. If parents have no claim on their children's income, then the …) model with fertility choice and altruism, and model ownership by introducing a minimum constraint on transfers from parents … failure that may lead to inefficiently low equilibrium fertility and therefore to a need for government intervention. The …

social security and endogenous retirement and fertility decisions. It demonstrates that neither fertility nor retirement … fertility and the elderly labor supply in the economy as a whole. It shows that governments can realize the first …